Shares of major railway stocks RVNL, IRFC, IRCON, RITES, and Titagarh Rail Systems were down on Thursday morning.

What Happened: Market analysts attribute the correction to the stock to profit booking as there was no visible trigger for the fall. 

Railway stocks had a stellar year in the bourses, surging between 70% and 500%. Since last year, shares of IRFC have zoomed more than 530%, RVNL soared 390%, Railtel surged 270%, IRCON and Jupiter Wagons rose more than 260%. 

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Most of these stocks are sitting on strong order books and have seen order inflows, giving revenue visibility. RVNL had an order book of ₹80,000 crore and Titagarh Rail Systems had ₹28,076 crore as of March 2024.

Price Action: Shares of Railway stocks fell on Thursday morning.

Rail Vikas Nigam shares fell 4.40% to ₹592.85.

IRFC shares were down 3.68% to ₹204.31. 

IRCON shares declined 3.49% to ₹312.50. 

IRCTC shares were down 1.38% to ₹1,014.75.

Railtel shares declined 4.90% to ₹528.95.

Jupiter Wagons shares fell 2.33% to ₹646.60. 

Titagarh Rail Systems shares were down 4.05% to ₹1,635.30. 

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